I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow. The last trade call I sent out covered the US CPI report this morning.
For this report, the plan was to go short on the GBP/USD if the release came out higher than expected by 0.2% or more from the expected number. The actual number came out with no deviation, so we did not enter the trade. To see the video of this trade, click on the following link:
We also had several traders this morning that reported they had stayed in the trades from yesterday and made some additional profits. We had reports from traders that took over 100 pips of profit on the NZD Retail Sales report from Monday night, and over 150 pips of profit on the UK CPI trade from yesterday morning. If you would like to see videos of these trades you can click on the links below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the UK Retail Sales report is released at 4:30 am EDT. We will be focusing on the Retail Sales MoM figure, which will be Row 1 on the RSS. The expectation for this report is 0.1%. We will be looking for a deviation of 0.4% to trigger a safe trade. A higher than expected number would be good for the GBP and would signal a long on the GBP/USD, and a lower than expected number would be bad for the GBP so that would signal a short on the GBP/USD. This is our current outlook for this trade; however, it is subject to change as market conditions may change by then. Be sure to log in to the Live Trade Room 15 minutes prior to the release to get my commentary on this potential trade.
This report last hit our safe trigger in May, and we had many traders report profits of 25 to 45 pips. To see the video of May’s trade for this report, click on the following link:
Good Luck!!!!
